Freddie Mac's chief executive, Dick Syron, yesterday said he expected serious changes to regulations governing the mortgage finance providers, but stressed that questions over capital should be addressed on a risk-based basis.

An accounting scandal at Fannie Mae, Freddie's sibling finance provider, has fuelled attempts by some policymakers to introduce legislation overhauling regulation of the providers. Richard Shelby, chairman of the Senate banking committee, has made regulatory reform a key issue this year.